“Telemedicine companies are now asking: ‘How do we engage patients for the long-term? Just so that they don’t come once, pay S$20 (US$14) for a consultation, and leave’,” says Dario Heymann, chief research officer at Galen Growth—a digital health market intelligence platform.
“Tele-consultation as a standalone solution is not a sustainable business model,” he declares.
But how did it come to this? After all, telemedicine exploded during the pandemic.
In 2020, Covid had let virtual healthcare out of the bottle. From there emerged Doctor Anywhere, a Singapore-based telehealth company, which eventually became the most well-funded player in the market.